The National President, National Palm Produce Association of Nigeria (NPPAN), Mr Henry Olatujoye, has called on investors to invest in palm produce.

Olatujoye made the call at the Palm Produce Pre-Conference Stakeholders’ meeting in Abuja, recently with about 45 stakeholders in attendance from across the country.

He said that the meeting was in preparation for the forthcoming international conference being organised by the Ministry of Trade and Investment in collaboration with the association.

He noted that the objective of the conference which would hold in the second quarter of 2013, was to expose the potential the palm produce industry to the world.

He expressed regret that Nigeria was not maximising its investment potential in the palm tree.

According to him, the palm oil tree is to West Africa, adding that the oil has been traditionally used as food, medicine, woven material and wine.

He added that palm oil was the largest world supplier of fat and oil and possessed the capacity to be processed into several derivatives than any other oil plants.

He recalled that Nigeria had maintained a leading position in global production and export of palm oil in the early 1950s and 60s and expressed regret that the situation had not been the same currently.

According to him, Nigeria, which used to be the leading palm oil producing country in the world, is now in the seventh position after losing its position to Indonesia.

He said that Indonesia was able to attain its present position because it had the biggest rate of increase in terms of forest converted into palm oil plantation.

“At present, Indonesia and Malaysia contribute about 85 per cent of the total world palm oil needs.’’

Olatujoye said that Nigeria, with about six million hectares available for palm plantation, could compete with Indonesia and Malaysia, if efforts were geared toward progressive investment in the palm produce industry.

He observed that Nigeria was spending so much money on palm oil importation and therefore, boosting the economy of those countries.

He said that the association, formed 17 years ago, had yet to record any meaningful success, due mainly to the government’s inability to mobilise the private sector in plantation development.

He listed other challenges confronting the association as funding and inconsistency in policies on palm oil development programmes.

Olatujoye said that the major objective of the association was to bring together all those in palm oil cultivation, production, research, processing, marketing, sales, purchase and development of palm produce in the country.

He said the other objectives were to promote order and discipline in palm oil production, trade and commerce in the industry.

He said affiliating and co-operating with other national and international associations involved in the production, research and development, commerce and export trade of the produce also formed part of its objectives.

In her remarks, Mrs Omololu Ope-ewe, the Deputy Director, Commodities, Ministry of Trade and Investment, said that the forthcoming international conference would focus on sensitising investors on the enormous investment opportunities embedded in palm produce.

According to her, the conference with the theme : ‘’Bringing back the lost glory of palm oil industry in Nigeria’’ is in line with the Agricultural Transformation Agenda of President Goodluck Jonathan.

She advised the association to show more commitment and dedication in the discharge of its responsibilities and liaise with the government to move the palm oil industry forward.

“I can assure you that in the true spirit of Public Private Partnership, the government will give you all the necessary support and encouragement.

“The government will also provide the enabling environment for the conference to succeed in order to attain global recognition of our great palm oil sub-sector in Nigeria,’’ she said.